ApeX Protocol celebrates 1st anniversary with 25,000 USDC, 50,000 APEX in rewards

abdelaziz Fathi

In its first year of operation, ApeX Protocol, a decentralized and non-custodial derivatives protocol incubated by Davion Labs, has reported remarkable growth and development in the DeFi sector. Celebrating its anniversary, ApeX has announced a series of rewards and a glimpse into its future plans.

ApeX Protocol

Over the past year, the exchange has reportedly handled over $17 billion in cumulative trading volume with more than 29,000 traders using the platform. ApeX operates on StarkEx’s Layer 2 solution, offering up to 50x leverage on various trading pairs.

In addition to developing a decentralized exchange (DEX), ApeX has introduced two passive income solutions: the Staking program and Smart Liquidity Pool (SLP). The latter is the first market-making liquidity pool on a decentralized orderbook DEX.

The Staking program boasts an average staking Annual Percentage Yield (APY) of 26.5%. Participants engaging in this program have collectively earned over 450K USDC through revenue-sharing since its inception. On the other hand, the SLP offers an average Annual Percentage Rate (APR) of 18.85%. This avenue enables retail users to engage in market-making strategies by contributing liquidity to the platform with a minimum $100 deposit. By participating in SLP, users passively earn fees in USDC while contributing to the platform’s liquidity.

Innovation hasn’t stopped at traditional offerings; ApeX has also introduced a trading bot accessible via Telegram, a first of its kind for decentralized platforms. Moreover, strategic partnerships with various firms in the blockchain space are said to enhance the user experience and expand the platform’s capabilities. The list of partners includes key players in the crypto industry like Bybit, Mantle, Arbitrum, and others.

As part of the anniversary celebrations, ApeX is giving away rewards totaling 25,000 USDC and 50,000 APEX through various activities, including a trading competition and community engagement initiatives.

Looking forward, ApeX’s roadmap includes the development of social trading features, updates to its tokenomics, and liquidity initiatives. These updates aim to refine the community’s participation and bolster the overall value of the ApeX project.

“As ApeX celebrates its first year, the journey ahead looks even more promising. “ApeX’s first year has exceeded our expectations, and we’re thrilled to continue pushing the boundaries of decentralized finance. This anniversary is a testament to the incredible community that has shaped ApeX into what it is today. Our accomplishments and partnerships showcase collective effort and passion driving decentralized excellence, while our roadmap reflects our commitment to innovation and provides users with a seamless, rewarding trading experience,” said Tekla I, the Head of Business Development at ApeX Protocol.

Read this next

Digital Assets

Binance to phase out BUSD support in two weeks

Binance has announced its plans to gradually phase out support for its native stablecoin, BUSD (Binance USD) by December 15, 2023. This move comes after Paxos, the issuer of BUSD, decided to stop minting new tokens.


Binance Labs invests $3.15M in Open Campus to advance Web3 education

Binance Labs, the venture capital arm of the cryptocurrency giant Binance, has invested $3.15 million in Web3 education platform Open Campus.

Institutional FX

Brighty App unveils EU B2B payment platform amidst exploding market

Brighty App is set to launch its European B2B platform, Brighty Business, this month. This platform is geared towards improving how businesses handle their financial operations, especially in the digital banking and cryptocurrency domains.

Digital Assets

Celsius’ withdrawal process slowed by overwhelming demand

Bankrupt crypto lender Celsius is taking steps to allow certain customers to withdraw their funds. However, some users have reported difficulties in logging in to process their withdrawals, as indicated by posts on various social media platforms.

Digital Assets

Cristiano Ronaldo hit with $1 billion lawsuit over Binance NFTs

Cristiano Ronaldo, the renowned footballer, is facing a class-action lawsuit in the United States over his promotion of Binance, the world’s largest cryptocurrency exchange.

Digital Assets

Zipmex creditors offered 3.35 cents on the dollar payout

Zipmex, a Thai crypto exchange grappling with financial difficulties, has proposed a restructuring plan to repay its creditors.

Digital Assets

FSB warns of risks posed by multifunction crypto-asset intermediaries

The report on Multifunction Crypto-Asset Intermediaries (MCIs) provides an in-depth analysis of these entities which combine various crypto-asset services and products, typically centering around a trading platform. These services can include proprietary trading, investment functions, issuance, promotion, and distribution of crypto-assets, including stablecoins.

Retail FX

Indonesia launches PosPay Gold: a Sharia-compliant physical gold trading app powered by Kinesis

“Partnerships like the just realized POSPay Gold in Indonesia will revolutionize the global monetary system and economy and will enable citizens to have access to trading in gold while being sharia-compliant and having the freedom to realize their everyday financial needs.”

Retail FX

Webull acquires Flink to enter Mexican market ahead of further LATAM expansion

“Given our success in the United States and the establishment of our global headquarters in St. Petersburg, Florida, the Mexican market is a natural next step in our efforts to democratize finance for investors across the world. We anticipate using Mexico as a springboard into greater Latin and South America, where we believe there is a strong desire among retail investors to access global markets.”